India continues to boost NPK demand this week

A batch of 25,000 tons of Russian 20-20-0+13S cargo was shipped at a price of US$255/ton in July. A trader sold 30,000 tons of Russian 16-16-16 to Indian sellers, but the transaction price was not disclosed. India's port stocks are increasing. The stocks on June 15 were 137,000 tons of NPK and 63,000 tons of NP, higher than the 117,000 tons of NPK and 33,000 tons of NP at the beginning of the month. The timely arrival of the monsoon has supported kharif planting so far this quarter, and fertilizer demand looks set to continue as rains continue to advance across the country.

In Europe, discussions continue in Ukraine and the southeast, with Romania focusing on DAP and not expected to seriously discuss NP and NPK trade until July.

One Acre Fund issued a small tender to buy about 1,000 tons of 23-10-5+6S+1.0Zn, which will be delivered to Malawi by the end of this month. But in other parts of East Africa, the market is keeping silence as blockades in place in some East African countries have slowed trade and hampered logistics